Center Laboratories (Taiwan) Market Value
| 4123 Stock | TWD 50.60 0.50 1.00% |
| Symbol | Center |
Center Laboratories 'What if' Analysis
In the world of financial modeling, what-if analysis is part of sensitivity analysis performed to test how changes in assumptions impact individual outputs in a model. When applied to Center Laboratories' stock what-if analysis refers to the analyzing how the change in your past investing horizon will affect the profitability against the current market value of Center Laboratories.
| 06/03/2024 |
| 11/30/2024 |
If you would invest 0.00 in Center Laboratories on June 3, 2024 and sell it all today you would earn a total of 0.00 from holding Center Laboratories or generate 0.0% return on investment in Center Laboratories over 180 days. Center Laboratories is related to or competes with Alar Pharmaceuticals, and LIWANLI Innovation. Center Laboratories, Inc. engages in the manufacture and trading of various medicines in Taiwan More
Center Laboratories Upside/Downside Indicators
Understanding different market momentum indicators often help investors to time their next move. Potential upside and downside technical ratios enable traders to measure Center Laboratories' stock current market value against overall market sentiment and can be a good tool during both bulling and bearish trends. Here we outline some of the essential indicators to assess Center Laboratories upside and downside potential and time the market with a certain degree of confidence.
| Downside Deviation | 1.51 | |||
| Information Ratio | 0.0076 | |||
| Maximum Drawdown | 7.66 | |||
| Value At Risk | (2.12) | |||
| Potential Upside | 3.66 |
Center Laboratories Market Risk Indicators
Today, many novice investors tend to focus exclusively on investment returns with little concern for Center Laboratories' investment risk. Other traders do consider volatility but use just one or two very conventional indicators such as Center Laboratories' standard deviation. In reality, there are many statistical measures that can use Center Laboratories historical prices to predict the future Center Laboratories' volatility.| Risk Adjusted Performance | 0.0728 | |||
| Jensen Alpha | 0.1613 | |||
| Total Risk Alpha | (0.15) | |||
| Sortino Ratio | 0.0086 | |||
| Treynor Ratio | (0.87) |
Center Laboratories Backtested Returns
At this stage we consider Center Stock to be very steady. Center Laboratories secures Sharpe Ratio (or Efficiency) of 0.0923, which signifies that the company had a 0.0923% return per unit of risk over the last 3 months. We have found thirty technical indicators for Center Laboratories, which you can use to evaluate the volatility of the firm. Please confirm Center Laboratories' Downside Deviation of 1.51, mean deviation of 1.31, and Risk Adjusted Performance of 0.0728 to double-check if the risk estimate we provide is consistent with the expected return of 0.16%. Center Laboratories has a performance score of 7 on a scale of 0 to 100. The firm shows a Beta (market volatility) of -0.16, which signifies not very significant fluctuations relative to the market. As returns on the market increase, returns on owning Center Laboratories are expected to decrease at a much lower rate. During the bear market, Center Laboratories is likely to outperform the market. Center Laboratories right now shows a risk of 1.7%. Please confirm Center Laboratories standard deviation, total risk alpha, and the relationship between the coefficient of variation and jensen alpha , to decide if Center Laboratories will be following its price patterns.
Auto-correlation | -0.23 |
Weak reverse predictability
Center Laboratories has weak reverse predictability. Overlapping area represents the amount of predictability between Center Laboratories time series from 3rd of June 2024 to 1st of September 2024 and 1st of September 2024 to 30th of November 2024. The more autocorrelation exist between current time interval and its lagged values, the more accurately you can make projection about the future pattern of Center Laboratories price movement. The serial correlation of -0.23 indicates that over 23.0% of current Center Laboratories price fluctuation can be explain by its past prices.
| Correlation Coefficient | -0.23 | |
| Spearman Rank Test | -0.34 | |
| Residual Average | 0.0 | |
| Price Variance | 5.53 |
Center Laboratories lagged returns against current returns
Autocorrelation, which is Center Laboratories stock's lagged correlation, explains the relationship between observations of its time series of returns over different periods of time. The observations are said to be independent if autocorrelation is zero. Autocorrelation is calculated as a function of mean and variance and can have practical application in predicting Center Laboratories' stock expected returns. We can calculate the autocorrelation of Center Laboratories returns to help us make a trade decision. For example, suppose you find that Center Laboratories has exhibited high autocorrelation historically, and you observe that the stock is moving up for the past few days. In that case, you can expect the price movement to match the lagging time series.
Current and Lagged Values |
| Timeline |
Center Laboratories regressed lagged prices vs. current prices
Serial correlation can be approximated by using the Durbin-Watson (DW) test. The correlation can be either positive or negative. If Center Laboratories stock is displaying a positive serial correlation, investors will expect a positive pattern to continue. However, if Center Laboratories stock is observed to have a negative serial correlation, investors will generally project negative sentiment on having a locked-in long position in Center Laboratories stock over time.
Current vs Lagged Prices |
| Timeline |
Center Laboratories Lagged Returns
When evaluating Center Laboratories' market value, investors can use the concept of autocorrelation to see how much of an impact past prices of Center Laboratories stock have on its future price. Center Laboratories autocorrelation represents the degree of similarity between a given time horizon and a lagged version of the same horizon over the previous time interval. In other words, Center Laboratories autocorrelation shows the relationship between Center Laboratories stock current value and its past values and can show if there is a momentum factor associated with investing in Center Laboratories.
Regressed Prices |
| Timeline |
Pair Trading with Center Laboratories
One of the main advantages of trading using pair correlations is that every trade hedges away some risk. Because there are two separate transactions required, even if Center Laboratories position performs unexpectedly, the other equity can make up some of the losses. Pair trading also minimizes risk from directional movements in the market. For example, if an entire industry or sector drops because of unexpected headlines, the short position in Center Laboratories will appreciate offsetting losses from the drop in the long position's value.Moving against Center Stock
| 0.85 | 6620 | Handa Pharmaceuticals | PairCorr |
| 0.8 | 2888 | Shin Kong Financial | PairCorr |
| 0.75 | 2891C | CTBC Financial Holding | PairCorr |
| 0.71 | 4114 | Synmosa Biopharma | PairCorr |
| 0.7 | 6785 | Alar Pharmaceuticals | PairCorr |
The ability to find closely correlated positions to Center Laboratories could be a great tool in your tax-loss harvesting strategies, allowing investors a quick way to find a similar-enough asset to replace Center Laboratories when you sell it. If you don't do this, your portfolio allocation will be skewed against your target asset allocation. So, investors can't just sell and buy back Center Laboratories - that would be a violation of the tax code under the "wash sale" rule, and this is why you need to find a similar enough asset and use the proceeds from selling Center Laboratories to buy it.
The correlation of Center Laboratories is a statistical measure of how it moves in relation to other instruments. This measure is expressed in what is known as the correlation coefficient, which ranges between -1 and +1. A perfect positive correlation (i.e., a correlation coefficient of +1) implies that as Center Laboratories moves, either up or down, the other security will move in the same direction. Alternatively, perfect negative correlation means that if Center Laboratories moves in either direction, the perfectly negatively correlated security will move in the opposite direction. If the correlation is 0, the equities are not correlated; they are entirely random. A correlation greater than 0.8 is generally described as strong, whereas a correlation less than 0.5 is generally considered weak.
Correlation analysis and pair trading evaluation for Center Laboratories can also be used as hedging techniques within a particular sector or industry or even over random equities to generate a better risk-adjusted return on your portfolios.Additional Tools for Center Stock Analysis
When running Center Laboratories' price analysis, check to measure Center Laboratories' market volatility, profitability, liquidity, solvency, efficiency, growth potential, financial leverage, and other vital indicators. We have many different tools that can be utilized to determine how healthy Center Laboratories is operating at the current time. Most of Center Laboratories' value examination focuses on studying past and present price action to predict the probability of Center Laboratories' future price movements. You can analyze the entity against its peers and the financial market as a whole to determine factors that move Center Laboratories' price. Additionally, you may evaluate how the addition of Center Laboratories to your portfolios can decrease your overall portfolio volatility.